CURACAO IS A TAX HAVEN FOR THE RICH?
By: JJosepha News
Twitter.com/JJosephaNews
Willemstad, Curacao. The 2019 Oxfam report, gray listed Curacao on the world's tax haven list. The report was referring to the tax regime of "Curacao's E-zone".
Oxfam International was formed in 1995 by a group of independent non-governmental organizations. Their aim was to work together for greater impact on the international stage to reduce poverty and injustice.
In the Oxfam report, The Netherlands was listed in the black list, more than 9% of profit made by worldwide multinationals is being channeled through the Netherlands, making the Netherlands a low blow of being in the top 5 of tax havens.
DOES CURACAO QUALIFY AS A TAX HAVEN COUNTRY?
A tax heaven is:
1.) A country that offers foreign businesses and or individuals, little or no tax liability in a politically and economically static environment.
2.) A country that shares limited or no financial information with foreign tax authorities.
3.) A country that does not require residency or business presence for individuals and businesses to benefit from their tax policies.
Due to the globalization of business operations, an increasing number of U.S. corporations, including Microsoft, Apple and Alphabet; formerly known as Google, are keeping cash in offshore tax havens to minimize their corporate taxes.
It appears that Curacao; benefits itself by being a "host country", the individuals/investors benefits and The companies/corporations that operates, and have accounts registered in curacao also benefits from Curacao's tax policies.
BENEFITS OF TAX HAVEN COUNTRIES.
According to an American PhD. professor of finance, "Tax haven countries benefit by drawing capital to their banks and financial institutions, giving rise to a thriving national financial sector. The corporations and individuals benefit through tax savings resulting from lower rates compared to higher taxes in their own countries of domicile; or countries of citizenship.
WEALTH SPREAD AMONG THE FEW SHOULD BE REDUCED.
The Oxfam.org website elicited; "Tax havens are fueling an inequality crisis that sees 8 people own the same wealth as the poorest half of the planet. We must work together and call on world leaders to end their use, once and for all".
Mitt Romney, a former 2012 republican presidential candidate versus former US President #44; Barrack Obama; in his presidential race to remain in The White House, exposed how little the rich pay in taxes, compared to their own employees, drawing out the point of tax havens used by Mitt Romney; especially in the Caribbean.
US President #45; Donald J. Trump Sr. has avoided the deadly pitfalls of revealing his latest tax returns during the 2016 presidential race against Hillary Clinton, and then even 2 years later. Could Trumps wealth be hidden in the Caribbean Island State Regions or somewhere in Europe in a tax haven country; like Netherlands, Hong Kong or Ireland?
Elizabeth Warren, 2020 democratic presidential candidate hopeful, a former professor, is campaigning on the ideology of; "Hood Robbing"- stopping the "big and mighty Rich Corporations" from squashing "the poor and small mom and pop store owners/ brick and mortars." This ideology is taking traction with the US news media and is reminiscent of the Helmin Wiels Era in Curacao of "The 80/20 rule"!
CURACAO "OPINIONNAIRE" ON OXFAM.
In an, on the street "opinionnaire"; Mr Martina from Salinja said; "these people who weren't elected by anyone in any country, coalesced and formed an organization supported by their" rich brothers and families under the disguise of eliminating or reducing poverty and injustice. That's a joke! ahh ahh ahh! I am still poor! Think about it, there is more poverty now in 2019 than there was in 1995 and the great difference in economic classes; of the rich to poor is greater than ever now, than before! Oxfam should be classified as a failing organization or foundation. In their basic premise and their prime directive, I think they have possibly failed miserably, year after year; after year, for almost 24 years! So why would anyone really listening to them!"
CURACAO'S HDI% AND GC CLASSIFICATION INDICATORS.
JJosepha News in a random sampling discovered that on average there appears to be a large disparity in economic wealth in Curacao and there is an apparent positive correlation with corruption painting the picture that, the more honest you are the "poorer" you are, and that the less educated you are, and the greater the chances of such sector of people therefore; having a lower life expectancy ratio.
THE GINI COEFFICIENT (GC).
To understand this, the Gini coefficient is a relative measurement of inequality of income/wealth across individuals.
The Gini Coefficient;(GC) is inversely proportional to equality, where a GC of 0 represents complete equality, but a GC of 1 represents complete inequality.
THE HUMAN DEVELOPMENT INDEX PERCENTAGE (HDI%).
The Human Development Index (HDI) is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development. A country scores a higher HDI when the lifespan is higher, the education level is higher, and the GNI (PPP) per capita is higher.
The 2012 Human Development Report by the United Nations Development Programme listed Curacao at an HDI% of roughly 81. Whereas a 2018 HDI% listed Norway, Switzerland, Australia, Ireland and Germany in the top 5 and Netherlands ranking at #10 holding at about 93%
THE ZUCMAN 2018 REPORT ON TAX HAVENS
The Zucman 2018 Top 10 Tax Haven listed:
1. Ireland,
2. *Cayman Island (Caribbean Island State Region - CISR)
3. Singapore,
4. Switzerland,
5. Netherlands,
6. Luxembourg,
7. Puerto Rico (Caribbean Island State Region - CISR)
8. Hong Kong,
9. Bermuda (Caribbean Island State Region - CISR)
10. *British Virgin Islands (Caribbean Island State Region - CISR)
Oxfam International was formed in 1995 by a group of independent non-governmental organizations. Their aim was to work together for greater impact on the international stage to reduce poverty and injustice.
In the Oxfam report, The Netherlands was listed in the black list, more than 9% of profit made by worldwide multinationals is being channeled through the Netherlands, making the Netherlands a low blow of being in the top 5 of tax havens.
DOES CURACAO QUALIFY AS A TAX HAVEN COUNTRY?
A tax heaven is:
1.) A country that offers foreign businesses and or individuals, little or no tax liability in a politically and economically static environment.
2.) A country that shares limited or no financial information with foreign tax authorities.
3.) A country that does not require residency or business presence for individuals and businesses to benefit from their tax policies.
Due to the globalization of business operations, an increasing number of U.S. corporations, including Microsoft, Apple and Alphabet; formerly known as Google, are keeping cash in offshore tax havens to minimize their corporate taxes.
It appears that Curacao; benefits itself by being a "host country", the individuals/investors benefits and The companies/corporations that operates, and have accounts registered in curacao also benefits from Curacao's tax policies.
BENEFITS OF TAX HAVEN COUNTRIES.
According to an American PhD. professor of finance, "Tax haven countries benefit by drawing capital to their banks and financial institutions, giving rise to a thriving national financial sector. The corporations and individuals benefit through tax savings resulting from lower rates compared to higher taxes in their own countries of domicile; or countries of citizenship.
WEALTH SPREAD AMONG THE FEW SHOULD BE REDUCED.
The Oxfam.org website elicited; "Tax havens are fueling an inequality crisis that sees 8 people own the same wealth as the poorest half of the planet. We must work together and call on world leaders to end their use, once and for all".
Mitt Romney, a former 2012 republican presidential candidate versus former US President #44; Barrack Obama; in his presidential race to remain in The White House, exposed how little the rich pay in taxes, compared to their own employees, drawing out the point of tax havens used by Mitt Romney; especially in the Caribbean.
US President #45; Donald J. Trump Sr. has avoided the deadly pitfalls of revealing his latest tax returns during the 2016 presidential race against Hillary Clinton, and then even 2 years later. Could Trumps wealth be hidden in the Caribbean Island State Regions or somewhere in Europe in a tax haven country; like Netherlands, Hong Kong or Ireland?
Elizabeth Warren, 2020 democratic presidential candidate hopeful, a former professor, is campaigning on the ideology of; "Hood Robbing"- stopping the "big and mighty Rich Corporations" from squashing "the poor and small mom and pop store owners/ brick and mortars." This ideology is taking traction with the US news media and is reminiscent of the Helmin Wiels Era in Curacao of "The 80/20 rule"!
CURACAO "OPINIONNAIRE" ON OXFAM.
In an, on the street "opinionnaire"; Mr Martina from Salinja said; "these people who weren't elected by anyone in any country, coalesced and formed an organization supported by their" rich brothers and families under the disguise of eliminating or reducing poverty and injustice. That's a joke! ahh ahh ahh! I am still poor! Think about it, there is more poverty now in 2019 than there was in 1995 and the great difference in economic classes; of the rich to poor is greater than ever now, than before! Oxfam should be classified as a failing organization or foundation. In their basic premise and their prime directive, I think they have possibly failed miserably, year after year; after year, for almost 24 years! So why would anyone really listening to them!"
CURACAO'S HDI% AND GC CLASSIFICATION INDICATORS.
JJosepha News in a random sampling discovered that on average there appears to be a large disparity in economic wealth in Curacao and there is an apparent positive correlation with corruption painting the picture that, the more honest you are the "poorer" you are, and that the less educated you are, and the greater the chances of such sector of people therefore; having a lower life expectancy ratio.
THE GINI COEFFICIENT (GC).
To understand this, the Gini coefficient is a relative measurement of inequality of income/wealth across individuals.
The Gini Coefficient;(GC) is inversely proportional to equality, where a GC of 0 represents complete equality, but a GC of 1 represents complete inequality.
THE HUMAN DEVELOPMENT INDEX PERCENTAGE (HDI%).
The Human Development Index (HDI) is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development. A country scores a higher HDI when the lifespan is higher, the education level is higher, and the GNI (PPP) per capita is higher.
The 2012 Human Development Report by the United Nations Development Programme listed Curacao at an HDI% of roughly 81. Whereas a 2018 HDI% listed Norway, Switzerland, Australia, Ireland and Germany in the top 5 and Netherlands ranking at #10 holding at about 93%
THE ZUCMAN 2018 REPORT ON TAX HAVENS
The Zucman 2018 Top 10 Tax Haven listed:
1. Ireland,
2. *Cayman Island (Caribbean Island State Region - CISR)
3. Singapore,
4. Switzerland,
5. Netherlands,
6. Luxembourg,
7. Puerto Rico (Caribbean Island State Region - CISR)
8. Hong Kong,
9. Bermuda (Caribbean Island State Region - CISR)
10. *British Virgin Islands (Caribbean Island State Region - CISR)
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